Exane Derivatives lessened its holdings in Signature Bank (NASDAQ:SBNY – Get Rating) by 72.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 465 shares of the bank’s stock after selling 1,220 shares during the period. Exane Derivatives’ holdings in Signature Bank were worth $83,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBNY. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Signature Bank during the first quarter valued at about $29,000. JCSD Capital LLC acquired a new stake in shares of Signature Bank during the first quarter valued at about $29,000. Blume Capital Management Inc. acquired a new stake in shares of Signature Bank during the first quarter valued at about $29,000. Quent Capital LLC boosted its stake in shares of Signature Bank by 152.5% during the first quarter. Quent Capital LLC now owns 101 shares of the bank’s stock valued at $30,000 after purchasing an additional 61 shares in the last quarter. Finally, Cambridge Trust Co. boosted its stake in shares of Signature Bank by 1,018.2% during the first quarter. Cambridge Trust Co. now owns 123 shares of the bank’s stock valued at $36,000 after purchasing an additional 112 shares in the last quarter. Institutional investors own 98.62% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently commented on SBNY. Raymond James cut their price target on Signature Bank from $305.00 to $286.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group cut their price objective on Signature Bank from $377.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, May 31st. Stephens cut their price objective on Signature Bank to $240.00 in a research note on Friday, July 22nd. StockNews.com raised Signature Bank from a “sell” rating to a “hold” rating in a research note on Monday, August 15th. Finally, Morgan Stanley cut their price objective on Signature Bank from $262.00 to $247.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $282.38.
Signature Bank Trading Down 0.3 %
Signature Bank (NASDAQ:SBNY – Get Rating) last released its quarterly earnings data on Tuesday, July 19th. The bank reported $5.26 EPS for the quarter, beating the consensus estimate of $5.05 by $0.21. Signature Bank had a return on equity of 15.02% and a net margin of 43.86%. During the same quarter in the prior year, the business earned $3.57 earnings per share. As a group, equities analysts expect that Signature Bank will post 21.68 earnings per share for the current fiscal year.
Signature Bank Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.56 per share. The ex-dividend date was Thursday, July 28th. This represents a $2.24 annualized dividend and a dividend yield of 1.33%. Signature Bank’s dividend payout ratio is 11.93%.
About Signature Bank
Signature Bank provides commercial banking products and services. It accepts various deposit products, including checking accounts, money market accounts, escrow deposit accounts, cash concentration accounts, certificates of deposit, and other cash management products. The company provides various lending products comprising commercial and industrial loans, real estate loans, and letters of credit.
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